Cassaday & Co Wealth Management LLC Has $18.16 Million Holdings in Marriott International, Inc. (NASDAQ:MAR)

Cassaday & Co Wealth Management LLC reduced its stake in Marriott International, Inc. (NASDAQ:MAR) by 0.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,098 shares of the company’s stock after selling 74 shares during the period. Marriott International accounts for 0.6% of Cassaday & Co Wealth Management LLC’s holdings, making the stock its 19th biggest holding. Cassaday & Co Wealth Management LLC’s holdings in Marriott International were worth $18,156,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Marriott International during the fourth quarter valued at approximately $461,525,000. Capital International Investors grew its position in shares of Marriott International by 42.2% in the 4th quarter. Capital International Investors now owns 3,147,501 shares of the company’s stock worth $709,793,000 after buying an additional 934,304 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Marriott International in the 1st quarter valued at $153,697,000. Public Employees Retirement Association of Colorado grew its holdings in shares of Marriott International by 557.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 496,505 shares of the company’s stock worth $111,967,000 after buying an additional 420,962 shares in the last quarter. Finally, Crake Asset Management LLP purchased a new stake in shares of Marriott International in the fourth quarter valued at about $64,022,000. Institutional investors and hedge funds own 70.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Marriott International from $248.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Barclays increased their price target on shares of Marriott International from $240.00 to $251.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 17th. Morgan Stanley dropped their target price on Marriott International from $268.00 to $250.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Macquarie restated a “neutral” rating and set a $245.00 price target on shares of Marriott International in a report on Friday, August 2nd. Finally, Truist Financial lowered their target price on Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $244.44.

Marriott International Price Performance

MAR stock traded up $3.32 during midday trading on Friday, hitting $234.69. The stock had a trading volume of 2,218,129 shares, compared to its average volume of 1,488,453. Marriott International, Inc. has a 12-month low of $180.75 and a 12-month high of $260.57. The company’s 50-day moving average price is $232.36 and its 200 day moving average price is $239.16. The firm has a market cap of $67.03 billion, a PE ratio of 24.22, a price-to-earnings-growth ratio of 4.24 and a beta of 1.60.

Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Wednesday, July 31st. The company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.01. The firm had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.47 billion. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. Marriott International’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.26 earnings per share. As a group, sell-side analysts anticipate that Marriott International, Inc. will post 9.29 EPS for the current year.

Marriott International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 16th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 1.07%. Marriott International’s dividend payout ratio (DPR) is currently 26.01%.

About Marriott International

Marriott International, Inc engages in operating, franchising, and licensing hotel, residential, timeshare, and other lodging properties worldwide. It operates its properties under the JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.